Bitcoin Creator’s $ 64 billion effort is the focus of Florida trials

  • The family of a deceased man claims that their family member was involved in creating Bitcoin.
  • The identity of the creator of Bitcoins, known as Satoshi Nakamoto, has long been a point of interest
  • The family is suing for half of Nakamoto’s Bitcoin cache, valued at over $ 64 billion.

The mystery behind the creator of Bitcoin and their share of over $ 64 billion has spawned a lawsuit in Florida.

The family of a deceased man, David Kleiman, claims that their family member helped create the popular digital currency and plaintiff Kleiman’s alleged business partner, Craig Wright, for half of the $ 64 billion shareholding, The Wall Street Journal reported.

For the past five years, Wright has occasionally claimed that he created Bitcoin, but has failed to provide any evidence of his ownership. Although the creator could easily prove their identity by moving even a fraction of


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of about 1.1 million Bitcoin, or by using the private key that manages the account.

The identity of Bitcoins creator, known only as Satoshi Nakamoto, has long been a point of great interest, especially as their personal wealth continues to grow. Earlier this month, the cryptocurrency hit an all-time high of over $ 69,000.

In 2008, Bitcoin was born when a person who identified himself as Satoshi Nakamoto released a nine-page white paper explaining a decentralized “electronic cash system.” The Florida lawsuit alleges that Wright reached out to Kleiman for help with the White Paper, and later the two launched the digital currency together.

“We believe the evidence will show that there was a partnership to create and extract over a million bitcoin,” Vel Freedman, a lawyer for the Kleiman family, told The Wall Street Journal.

Wright’s defense told The Journal that it would provide evidence that Wright is the sole creator of the currency. Insider tried to contact Wright for further comments and will update this post if we hear back.

Since its inception, many names have been attached to Bitcoin, but it seems unlikely that the creator or creators would ever choose to identify themselves publicly. One of the basic principles of Bitcoin is that it is a decentralized currency, unbound to conspicuous institutions or individuals. If Nakamoto’s identity were revealed, it would violate these basic principles.

The trial started on November 1. A panel of 10 jurors was given three weeks to hear the evidence and decide the fate of the 1.1 million bitcoins.

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